Fast-moving consumer goods (FMCGs) are in action today as the GST Council has approved a two-slab structure, which will result in the reduction of a wide range of FMCG products. The new GST slabs will ...

Courts held that Section 16(2)(c) cannot be applied mechanically to deny ITC to honest buyers. ITC denial must be confined to ...

The court held that ITC reversal under Section 29(5) depends on a valid cancellation. Once registration is restored, the ITC ...

Insurers had been claiming ITC on distribution commissions, reinsurance, promotional spends and operational expenses. However ...

In a major relief for individual policyholders, the Goods and Services Tax (GST) Council announced on September 3, 2025, that all individual health and life insurance premiums would no longer be ...

B Sumant, the executive director of ITC, said the reforms have been “transformative for both consumers and businesses,” easing compliance and supporting growth. “The GST rate rationalisation across ...

Non-cigarette product prices set to be revised nationwide following government’s GST rationalisation, reaching millions of outlets Diversified conglomerate ITC on Thursday said it will pass on the ...

The GST Council, as widely expected, moved to a two-slab indirect tax system by retaining the 5% and 18% rates and doing away with the 12% and 18% slabs. The GST Council has been maintaining the ...

Insurance analysts reason that individual life and health insurance premiums are exempt from paying GST, so insurers cannot ...

New Delhi, Sep 25 (PTI) Leading FMCG player ITC expects a surge in the festive demand this season after the GST rate cut, and reduced prices will have a “multiplier impact” on volumes for the packaged ...

The Enforcement Directorate is investigating a multi-crore fake Input Tax Credit fraud. Raids were conducted across multiple states including Arunachal Pradesh and Delhi. The probe revealed that large ...